The Renaissance IPO ETF recently hit a 52-Week high, will rally continue?

Share This Article
May 8, 2019 2:55pm NYSE:IPO

NYSE:IPO | News, Ratings, and Charts

From Sweta Killa: For investors seeking momentum, Renaissance IPO ETF (IPO – Free Report) is probably on radar now. The fund just hit a 52-week high, and is up 46.5% from its 52-week low price of $21.63 per share.


But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed:

IPO in Focus

This fund provides exposure to the largest and most-liquid newly listed companies by tracking the Renaissance IPO Index. New companies seek inclusion on a fast entry basis on the fifth day of trading. The fund has key holdings in technology and consumer services. It charges investors 60 basis points a year in fees.

Why the Move?

The IPO market has been an area to watch lately given the slew of hot and sizzling public offerings like Levi Strauss (LEVI – Free Report) , Lyft (LYFT – Free Report) , Pinterest (PINS – Free Report) , Zoom Video Communications and Beyond Meat Inc BYND.

More Gains Ahead?

It seems that IPO might remain strong given a higher weighted alpha of 16.70% and a low risk as depicted by the 20-day volatility of 13.80%. As a result, there is definitely still some promise for investors, who want to ride on this surging ETF a little further.


The Renaissance IPO ETF (IPO) was trading at $30.89 per share on Wednesday afternoon, down $0.01 (-0.03%). Year-to-date, IPO has gained 9.61%, versus a 8.61% rise in the benchmark S&P 500 index during the same period.

IPO currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #2 of 4 ETFs in the IPO ETFs category.


This article is brought to you courtesy of Zacks .


9 "MUST OWN" Growth Stocks For 2021

Read Next



Free Investing Ideas Newsletter!

Join over 70,000 investors who get the latest insights and top rated picks from our free investment newsletter.

Most Popular



9 'MUST OWN' Growth Stocks for 2021

Explore More from ETFDailyNews.com

Free Investment Newsletter

Join over 70,000 investors who get the latest insights and top rated picks from our free investment newsletter.

ETFDailyNews.com respects your privacy.

Best ETFs

We've rated and ranked nearly 2,000 ETFs and ETNs using our proprietary SMART Grade system.

View Top Rated ETFs

Best Categories

We've ranked dozens of ETF categories based on relative performance.

Best ETF Categories